Wednesday, November 3, 2010
Crude Oil Technical Outlook For Wednesday Morning Nov. 3rd
If December extends this week's rally, October's high crossing near 85.08 is the next upside target. Closes below October's low crossing at 79.90 are needed to confirm that a short term top has been posted.
First resistance is the overnight high crossing at 84.74
Second resistance is October's high crossing at 85.08
Crude oil pivot point for Wednesday morning is 83.73
First support is the 10 day moving average crossing at 82.44
Second support is October's low crossing at 79.90